Audit Data Standards Inventory - AICPA

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AICPA Financial Reporting Center

Audit Data Standards

Inventory Subledger Standard As of March 2017

AuditDataStandards.Inventory.March2017

Prepared by the AICPA Assurance Services Executive Committee Emerging Assurance Technologies Task Force

htp://www.aicpa.org/FRC

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Copyright 2017 by Association of International Certified Professional Accountants New York, NY 10036-8775

Permission is granted to make copies of this work provided that such copies are for personal, intraorganizational, or educational use only and are not sold or disseminated and provided further that each copy bears the following credit line:

“Copyright 2017 by Association of International Certified Professional Accountants. Used with permission.”


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Assurance Services Executive Committee (2016 – 2017)

Robert Dohrer, Chair MaryGrace Davenport Bradley Ames Jennifer Haskell

Christine M. Anderson Brad Muniz Bradley Beasley

Michael Ptasienski

Nancy Bumgarner Joanna Purtell Jim Burton Miklos Vasarhelyi

Chris Halterman

Emerging Assurance Technologies Task Force Audit Data Standard & Audit Data Analytics Working Group

William R. Titera, Chair Paul Demastus

Joel Pinkus, Lead Robert Dohrer

Paul Barbour Kristine Hasenstab Karl Busch Dale Livezey

Cheryl Caldwell Mark Mayberry Eric E. Cohen Josh Phillips Brian Collins Daniel Shorstein Hunter Cook Miklos Vasarhelyi

Additional Contributors

Gianluca Garbellotto

AICPA Staff

Amy Pawlicki Director

Business Reporting, Assurance & Advisory Services

Dorothy McQuilken Manager

Business Reporting, Assurance & Advisory Services


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Audit Data Standards

The benefits of standardization are well-recognized and have led to the development of various general

IT standards. Standards are needed to address the ongoing challenge that management as well as

internal and external auditors face in the efficient exchange of a company’s1 data. This process is

complicated because accounting and IT personnel approach requests for such information from

different perspectives. For example, in some cases, audit-related data requests are forwarded directly to

a company’s IT department, with limited further involvement from the accounting or finance

department. In many cases, the burden is on the auditors to acquire the data.

The AICPA Assurance Services Executive Committee believes that audit data standards (ADS) will

contribute to the efficiency and effectiveness of the audit process through standardization of the format

for fields and files commonly requested for audit and other related purposes. Similarly, other consumers

of the standardized information (such as creditors) also would benefit if a company chose to share the

data. Both large and small, as well as public and private, companies stand to benefit from the

application of the ADS. By standardizing the data requested by auditors on a regular basis, companies

will be able to automate and replicate the information request process, thereby reducing the amount of

time and effort required to provide the requested data. Company staff and internal audit will also

benefit from enhanced analytical capabilities by leveraging the standardized data for internal purposes.

The standard will make the data usable for external auditors to perform enhanced data analysis.

These standards represent leading practices of which well-designed accounting and financial reporting

systems are capable of adhering.

This publication addresses the inventory subledger.

ADS address both the technical design (files, tables, fields, formats, and so on) and supplemental

questions about the data that are essential for an understanding of its use. The former generally is best

addressed though IT systems design and the latter is commonly provided by accounting or finance

personnel, with input from IT personnel. Please note that these are voluntary, recommended data

standards for the extraction of information. These data extract standards are not required, nor do they

represent authoritative audit or accounting standards.

These standards provide some degree of flexibility because there is recognition of the value of

uniformity, and the benefits of individual adaptation, particularly for companies of varying sizes and

industry characteristics. The standards are sensitive to specific requirements in different countries and

have international applicability. This is a minimum standard and is not meant to be limiting; therefore,

users may create customized, user-defined fields (for example, items should not be subtracted, but they

may be added where they do not already exist in the standard). However, to achieve the benefits of

standardization (when not specifically indicated), individual customization should be avoided. (In other

words, if an item is defined in the standard, then do not redefine it). Once a company adopts a particular

convention, the company should consistently export its data according to that convention, unless a

1 Please note that the term company is meant to represent companies, partnerships, government agencies, not-

for-profit entities, and so on, and is not limited to commercial entities.


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major IT system conversion is undertaken or the producers and consumers of the standardized data

mutually agree on an expansion, or both.

The ADS specifications were designed based on the needs of the majority of systems encountered by its

designers. For the flat file (pipe-delimited) format, this means that certain “repetitive” fields were fixed

at a certain number. These include the following:

Business_Unit_Listing in Base Standard: — Business_Unit_Hierarchy[1] – [5]

GL_Detail_YYYYMMDD_YYYYMMDD in General Ledger Standard et al: — Segment[01] – [05]

Customer_Master_YYYYMMDD in Accounts Receivable Standard or Order-to-Cash Standard: — Addresses of Physical and Billing

Invoices_Received_YYYYMDD_YYYYMMDD in Procure-to-Pay Standard et al: — GL_Debit_Account_Number and GL_Credit_Account_Number

In the last case, an entry line can have a set of debit and credit accounts; if produced in summary rather

than in detail, the entire invoice can have only one set of debit and credit accounts unless

1. the auditor and the client agree to append additional debit and credit accounts at the end

of a line of detail and agree on the format, or

2. the XBRL GL format is used rather than using the pipe-delimited format. As noted in the

XBRL GL column, XBRL GL uses a method to represent data that permits more entries than

the flat file format.

Where more complex, hierarchical, or repetitive entries are necessary, XBRL GL may be the more

practical format for representing the data shared using the ADS.

Companies implementing the ADS should first contact their enterprise resource planning, or ERP, or

accounting package vendor for assistance. If the vendor does not have a solution for adopting the ADS,

then extract, transform, load, or ETL, vendors have developed scripts that can be used to map to the

ADS.

Prior to implementing these data standards, an evaluation should be made of the reliability of the data

through the use of controls and segregation of duties testing. Guidance for these types of evaluation

criteria is available at www.aicpa.org/AuditDataAnalytics.


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1. Inventory Subledger Standard

This publication addresses the basic inventory process (please note that production and manufacturing will be addressed in future specifications).

The Inventory Subledger ADS is intended to accommodate basic analysis of the inventory process. The

standard is intended to facilitate analysis performed as part of an audit, as well as analysis that might be

performed by company staff and internal audit in order to improve internal processes. Future updates

to this standard may provide more detail and industry-specific content to broaden the opportunities for

analysis.

Inventory is one of several business processes related to the supply chain. Figure 1 summarizes a supply

chain process flow and indicates which elements of the supply chain are addressed in this Inventory

Subledger ADS and the related order-to-cash (O2C) ADS and procure-to-pay (P2P) ADS.

Figure 1: Elements of the Supply Chain Addressed by ADS

The Inventory Subledger Standard audit data is defined with multiple tables containing related

information. Figure 2 provides a data diagram that shows the relationship between tables in the

Inventory Subledger Standard. It is important to note that the Inventory Subledger Standard should be

used in conjunction with the Audit Data Standard – Base Standard document, which is located on the

AICPA’s website.

= Addressed in Standards = Not Addressed in Standards

Purchase Contract

Purchase Requisition

Purchase Orders

Goods Receipts

Purchase Invoices

Open Accounts Payable

Procure to Pay

Order to Cash

Inventory

Manufacturing

Sales Orders Shipments Made

Open Accounts

Receivable Cash Received Sales Contract Sales Invoices

Payments Made

WIP

Supplier

Customer

Add to Inventory

Relieve Inventory

Inventory Inventory Movements

Raw Materials

Finished Goods

Cash Application

to AR

Cash Application

to AP

AR Adjustments

AP Adjustments


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Figure 2: Data Relationships Among Tables in the Inventory Subledger Audit Data Standard

The “level” column for data fields within each table of the Inventory Subledger Standard has a label of

either “1” or “2” to indicate the importance of the data. Level 1 items are required (when available

through IT systems or additional means). The level 2 items are recommended, but may not always be

available. The fields that are not available should be specified by IT or management.


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The following subsections detail the Inventory Subledger ADS:

2.0 Inventory Standardized Data2

2.1 Inventory_Location_Master_File_YYYYMMDD

2.2 Inventory_Product_Master_File_YYYYMMDD

2.3 Inventory_On-Hand_File_File__YYYYMMDD

2.4 Inventory_On_Hand_File_SerialLot_Detail_YYYYMMDD

2.5 Inventory_Transaction_File_YYYYMMDD-YYYYMMDD

2.6 Physical_Inventory_File_YYYYMMDD

2.7 Physical_Inventory_File_SerialLot_Detail_YYYYMMDD

2.8 Material_Cost_File_YYYYMMDD

2 Please note that for table names with two dates, the dates represent the extract criteria's beginning and ending

dates. For table names with one date, the date represents the "as of" date of the extract.


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2.1 Inventory_Location_Master_File_YYYYMMDD

A generic location file, used primarily to indicate warehouse locations, manufacturing locations, and other locations where inventory may be tracked and located. Used generically to formalize organizational locations (which may be given distinct tax IDs by regulators), can include detail for location, warehouse, bin, or other physical and logical locations.

Field # Field Name Level Flat File Data XBRL GL Taxonomy Element Comment

Data

Type

Length

1 Business_Unit_Code 1 TEXT 50 gl-cor:accountSubID with

glcor:accountSubType of “Business_Unit”

Used to identify the business

unit, region, branch, and so on

at the level that financial

statements are being audited.

Must match a

Business_Unit_Code in the

Business_Unit_Listing file

2 Location_ID 1 TEXT 75 For XBRL GL, this isn’t a single field; use the

Business_Unit_Code and Location_ID’s XBRL

GL concepts to tie back.

Unique identifier for

organizations. May require a

concatenation of items such as

Business_Unit_Code and

Location_Code

3 Location_Code 1 TEXT 25 gl-bus:organizationAddressLocationIdentifier Code used to identify inventory

location at local, rather than

organizational, level

4 Location_Description 1 TEXT 100 gl-bus:organizationAddressDescription Textual description of location

identified by Location_Code

5 Location_Street 1 TEXT 100 gl-bus:organizationAddressStreet Street address or other local

identifier of location of


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Data

Type

Length

organization at level below City.

May encompass additional

information such as floor

number

6 Location_City 1 TEXT 100 gl-bus:organizationAddressCity City where location is found

7 Location_State_Province 1 TEXT 100 gl-bus:organizationAddressStateOrProvince Major region where location is

found. Recommend ISO 3166-2

for naming and coding

conventions

8 Location_Country 1 TEXT 100 gl-bus:organizationAddressCountry Country where location is found.

Recommend ISO 3166-1 Alpha-2

or ISO 3166-1 Alpha 3 format

(XX or XXX)

9 Location_Zip_PostalCode 1 TEXT 25 gl-bus:organizationAddressZipOrPostalCode Zip or postal code of location

10 Location_Active_Flag 1 BOOLEAN 5 gl-bus:organizationAddressActive Y (Active) or N (Inactive); this

indicates whether this location

can be referenced in future

records.

11 Location_Type 1 TEXT 12 gl-bus:organizationAddressPurpose Freeform description of purpose

for location, such as Warehouse,

Manufacturing floor, Shipping,

Brokerage


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Data

Type

Length

12 Location_Parent 2 TEXT 25 Concatenate with content in gl-

bus:organizationAddressDescription using a

pipe (|) separator using syntax P: gl-

bus:organizationAddressLocationIdentifier

Parent or containing

organization for this reporting

(sub)unit, where applicable;

must be valid entry of

Location_Code from this file.

13 Location_Longitude 2 NUMERIC gh-ehm:geospatialCoordinate

Enter a relevant location for this item. Format

can be either:

• Degrees, minutes, and seconds (DMS):

41°24'12.2"N 2°10'26.5"E

• Degrees and decimal minutes (DMM): 41

24.2028, 2 10.4418

or

• Decimal degrees (DD): 41.40338, 2.17403

Geospatial coordinates using

decimal rather than degree

format. For example, if the

facility is located at

40°45'31.7"N 73°58'56.1"W,

then 40°45'31.7"N would be

entered as 40.758812.

14 Location_Latitude 2 NUMERIC See above: integrated into one field in XBRL

GL.

Geospatial coordinates using

decimal rather than degree

format. Using the above

example, 73°58'56.1"W would

be entered as -73.982250.

15 Third_Party_Facility 2 TEXT 25 gl-bus:amountMemo = “true” Used to identify inventory that

is held at a third party (non-

owned) location (use “true” if


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Data

Type

Length

the items are held at a third

party location, or “false” (or do

not provide) if not held at a

third party location.

16 Segment01 2 TEXT 25 XBRL GL tracks hierarchy ID, hierarchy

description, and hierarchy type, so it can

track code NA, description N. America, and

type global area using gl-cor:accountSubID,

gl-cor:accountSubDescription, and gl-

cor:accountSubType, respectively.

Interrelations and hierarchies are captured by

gl-cor:parentSubAccountType.

Reserved segment field that can

be used for profit center,

division, fund, program, branch,

project, and so on

17 Segment02 2 TEXT 25 See above Same as above





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Additional Comment for XBRL GL For an inventory location master file, additional required or recommended fields include the following.

Element Content Comment

gl-cor:entriesType value = “master_file” Explicitly defines this as a master file, as per XBRL GL’s enumerations.

gl-cor:entriesComment value = “ads:Inventory_Location_Master_File_YYYYMMDD” [entriesComment] is the descriptive field describing what is common in the collection of information; introducing audit data standard namespace and qualifier for type of collection ties it to this representation.


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2.2 Inventory_Product_Master_File_YYYYMMDD

Captures basic attributes of inventory items and other tracked items through the purchase, use, and sales process.


Data

Type

Length


glcor:accountSubType of

“Business_Unit”

Used to identify the business unit, region,

branch, and so on at the level that financial

statements are being audited. Must match a



2 Inventory_Product_ID 1 TEXT 75 For XBRL GL, this isn’t a single

field; use the Business_Unit_Code

and Inventory_Item_Code’s XBRL

GL concepts to tie back (need to

consider interrelationships with

other files)

Unique identifier; may require a concatenation,

such as Business_Unit_Code +

Inventory_Item_Code

3 Default_Inventory_Method 2 TEXT 25 gl-ehm:costingMethodCode

(enumerated) with values like

LIFO, FIFO, tax _basis, book_basis

and gl-

ehm:costingMethodDescription

(freeform)

Description of costing practice, such as LIFO,

FIFO, Average, Standard, and specific

identification

4 Preferred_Vendor 2 TEXT 100 gl-cor:identifierCode for internal #

with gl-cor:identifierType =

“vendor”

Preferred vendor: Vendor whom the

organization has designated as the first choice

from whom to procure this item, for contractual

or practical reasons, which may include historical

reliability and quality, advantageous terms

including delivery or pricing, specific customer

request, or other terms, conditions, or reasons.


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Data

Type

Length

Must match an existing Supplier_Account_ID

from Supplier_Listing_YYYYMMDD.

5 Inventory_Item_Code 1 TEXT 25 gl-bus:measurableID where gl-

bus:measurableCode = “IN”

An Internal ID at the local level for tracking this

item

6 Inventory_Description 1 TEXT 100 gl-bus:measurableDescription Description of item

7 Inventory_Bar_Code 2 TEXT 25 gl-bus:measurableIDOther UPC or other external identifier, such as the

product code from a primary vendor

8 Product_Group_01 2 TEXT 25 gl-bus:measurableCategory Product descriptor #1, for example: Tires or

Accessories

9 Product_Group_02 2 TEXT 25 Add as subcategory to gl-

bus:measurableCategory using

pipe (|) delimiter.

Product descriptor #2, for example: Brand

10 Inventory_Class 1 TEXT 25 gl-ehm:measurableClassID

(enumerated) to include codes

from Inv and PPE (for example,

raw material, WIP, finished goods,

land, building, F&, etc.), gl-

ehm:measurableClassDescription

(freeform)

There are a number of ways to classify inventory

and inventoried supplies and components. One

such categorization is common to a Balance

Sheet/Disclosure breakout that provides insights

into the realization of its economic value through

the production cycle (raw materials, work in

process, assemblies, finished goods), items

purchased directly for resale, and inventoried

supplies for maintenance, repair or operating

purposes. While the client and auditor can agree

on classifications used, the use of the following

suggested entries can provide an automated


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Data

Type

Length

understanding of the realization of economic

value:

Class Description

Assembly Assemblies

Finished_G

oods

Finished

Goods

inventory

Purchased_

for_Resale

Inventory

purchased for

resale

Raw_Mater

ials

Raw material

inventory

Supplies

Supplies

Work_In_P

rocess

Work in

Process

inventory


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Data

Type

Length

11 Serial_Number 2 BOOLEAN 5 For XBRL GL, Serial Number and

Lot Number are not two separate

Boolean fields, but a selection

from an enumerated value and an

associated freeform field. For

serial only, select “serial” from gl-

ehm:serialLotCode (enumerated:

serial, lot, other, neither)and leave

gl-ehm:serialLotDescription

(freeform) blank. For both serial

and lot tracked, use “other” from

gl-ehm:serialLotCode and enter

SerialAndLot for gl-

ehm:serialLotDescription

Tracked by serial number. true or false

12 Lot_Number 2 BOOLEAN 5 For XBRL GL, Serial Number and

Lot Number are not two separate

Boolean fields, but a selection

from an enumerated value and an

associated freeform field. For lot

only, select “lot” from gl-









Tracked by lot number. true or false

13 Default_Stocking_Unit_of_Meas

ure

2 TEXT 25 gl-bus:measurableUnitOfMeasure

with gl-bus:Qualifier = “stocking”

The unit of measure that stock is normally

increased


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Data

Type

Length

14 General_Ledger_Asset_Account 2 TEXT 100 Associate with account structure

(first) where account content is

stored in gl-cor:accountMainID

and identified as asset using gl-

cor:mainAccountType

GL account number on which the Balance Sheet

amount is recognized. For example, identifier for

the Raw Materials account

15 General_Ledger_Cost_Account 2 TEXT 100 Associate with account structure

(second) where account content is

stored in gl-cor:accountMainID

and identified as expense using gl-

cor:mainAccountType

GL account number on which the Income

Statement amount is recognized. For example,

identifier for the Cost of Sales account

16 Segment01 2 TEXT 25 XBRL GL tracks hierarchy ID,

hierarchy description, and

hierarchy type, so it can track code

NA, description N. America, and

type global area using gl-

cor:accountSubID,

glcor:accountSubDescription, and

glcor:accountSubType,

respectively. Interrelations and

hierarchies are captured by gl-

cor:parentSubAccountType (What

is the hierarchy type this unit rolls

up to?)

Reserved segment field that can be used for

profit center, division, fund, program, branch,

project, and so on






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Additional Comment for XBRL GL For an inventory product master file, additional required or recommended fields include the following.


gl-cor:entriesType value = “master_file” Explicitly defines this as a master file, as per XBRL GL’s enumerations.

gl-cor:entriesComment value = “ads:Inventory_Product_Master_File_YYYYMMDD” [entriesComment] is the descriptive field describing what is common in the collection of information; introducing audit data standard namespace and qualifier for type of collection ties it to this representation.


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2.3 Inventory_On-Hand_File_YYYYMMDD

Captures the on-hand inventory quantities of items by location and amounts as of the specified date.


Data

Type

Length



“Business_Unit”






2 Unique_ID 1 TEXT 75 For XBRL GL, this isn’t a

single field; use the

individual fields (1, 3, 4) XBRL

GL concepts to tie back (need

to consider interrelationships

with other files) and use

XML’s id and idref to create

the physical link from detail

to summary structures.

Unique code; may be a concatenation of

Business_Unit_Code, Inventory_Identifier and

Location_ID

3 Inventory_Product_ID 1 TEXT 25 For XBRL GL, this isn’t a



Inventory_Item_Code’s XBRL

GL concepts to tie back

Must be valid entry in

Inventory_Product_Master_File_YYYYMMDD

4 Location_ID 1 TEXT 25 For XBRL GL, this isn’t a



Location_ID’s XBRL GL

concepts to tie back (need to


Inventory_Location_File_YYYYMMDD


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Data

Type

Length

consider interrelationships

with other files)

5 Inventory_Held_For_Vendors 2 BOOLEAN 5 gl-

bus:measurableCodeDescript

ion = “vendor”

Used to identify inventory that is physically

present, but held for vendors. true or false

6 Inventory_Held_For Customers 2 BOOLEAN 5 gl-


ion = “customer”


present, but held for customers. true or false

7 Inventory_Held_For_Others

2 BOOLEAN 5 gl-


ion = “other”


present, that is held for others besides

customers or vendors. true or false

8 Obsolete_or_Damaged_Inventory 2 TEXT 25 gl-

cor:postingStatusDescription

= “slow moving”, “damaged”

or “obsolete”

To assist in identifying inventory quantities

that are slow moving, damaged or obsolete.

Enter “slow moving” “damaged” or

“obsolete”.

9 Bin_ID 2 TEXT 25 Use ID and location from

location file … gl-

bus:organizationAddressLoca

tionIdentifier

Optional identifier of sub-location: Code used

in system

10 Bin_Location 2 TEXT 50 gl-

bus:organizationAddressDesc

ription

Optional identifier of sub-location:

Description of bin location used in system

11 Quantity 1 NUMERIC gl-bus_measurableQuantity Count as expressed in

Inventory_Stocking_UOM

12 Inventory_Purchasing_UOM 2 TEXT 25 gl-

bus:measurableUnitOfMeasu

Primary unit of measure how goods enter the

organization


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Data

Type

Length

re with gl-

bus:measurableQualifier =

“purchasing”

13 Inventory_Stocking_UOM 1 TEXT 25 gl-


re with gl-


“stocking”

Unit of measure used associated with the

quantity used for stocking inventory

14 Inventory_Selling_UOM 2 TEXT 25 gl-


re with gl-


“selling”

Primary unit of measure of how goods leave

the organization through sales

15 Inventory_Cost_Method 1 TEXT 25 gl-ehm:costingMethodCode Description of costing practice, such as LIFO,

FIFO, Average, Standard, and specific

identification

15.5 Inventory_Cost 1 NUMERIC gl-

bus:measurableCostPerUnit

Cost per unit using the method found in field

Inventory_Cost_Method

16 Standard_Cost 2 NUMERIC gl-

bus_measurableCostPerUnit

with gl-


“standard”

If maintained, the standard cost per unit

17 Average_Cost 2 NUMERIC gl-


with gl-

If maintained, the average cost per unit


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Data

Type

Length


“average”

18 Specific_Cost 2 NUMERIC gl-


with gl-


“specific”

If maintained, the specific cost per unit

19 Quantity_On_Hand_System 1 NUMERIC gl-bus:measurableQuantity Either quantity on hand at last physical count

per system, or calculated quantity on hand.

20 Quantity_On_Hand_Physical_Count 2 NUMERIC XBRL GL supports physical

counts by using gl-

cor:documentType = other

and gl-

cor:documentTypeDescriptio

n = physical_count and

putting counts in gl-

bus:measurableQuantity

rather than providing in the

local file. The physical count

at a last date is not relevant

to the current count of the

system.

Quantity on hand at last physical count per

physical count

21 Last_Count_Date 2 DATE See above: gl-

cor:documentDate

associated with above.

Date of last physical count

22 Inventory_List_Price 2 NUMERIC gl-


with gl-

List or suggested retail price


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Data

Type

Length


“standard_price”

23 Inventory_Purchase_Year_To_Date 2 NUMERIC gl-bus:measurableQuantity

with gl-


“pytd”

Quantity purchased to this location year to

date

24 Inventory_Sold_Year_To_Date 2 NUMERIC gl-bus:measurableQuantity

with gl-


“sytd”

Quantity sold from this location year to date

25 Inventory_ABC_Code 2 TEXT gl-bus:allocationCode Code representing the importance, dollar

value, or other measure of this item

according to Markov’s Rule for selective

inventory control, where 20% of items are

responsible for 80% of the value or risk. A =

top 20% representing 80% of risk; B

represents next 30%, representing 15% of

risk; C represents the 50% of items

representing only 5% of the risk

26 Primary_Vendor 2 TEXT 100 gl-cor:identifierCode for

internal # with gl-

cor:identifierType = “vendor”

From Vendor_Account_ID

27 Primary_Vendor_Product_Code 2 TEXT 25 gl-bus:measurableIDOther

with gl-


“vendor”

Item number used when ordering from

vendor


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Data

Type

Length

28 Primary_Manufacturer 2 TEXT 100 gl-cor:identifierCode with gl-

cor:identifierType = “other”

and gl-bus:identifierPurpose

= “manufacturing”

Freeform description of manufacturer of

product

29 Primary_Manufacturer_Product_Code 2 TEXT 25 gl-bus:measurableIDOther

with gl-


“manufacturer”

Item, catalogue, or other identifier from

specific manufacturer

30 Location_Currency 1 TEXT 3 gl-

muc:amountOriginalCurrenc

y

ISO4217 code for local currency



hierarchy type, so it can track

code NA, description N.

America, and type global

area using gl-

cor:accountSubID,

glcor:accountSubDescription,

and glcor:accountSubType,

respectively. Interrelations

and hierarchies are captured

by gl-

cor:parentSubAccountType

(What is the hierarchy type

this unit rolls up to?)

Reserved segment field that can be used for

profit center, division, fund, program, branch,

project, and so on




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Data

Type

Length



Additional Comment for XBRL GL For an inventory on-hand listing, additional required or recommended fields include the following.


gl-cor:entriesType value = “assets” Explicitly defines this as a listing of inventory on-hand, as per XBRL GL’s enumerations.

gl-cor:entriesComment value = “ads:Inventory_On-Hand_File_YYYYMMDD” [entriesComment] is the descriptive field describing what is common in the collection of information; introducing audit data standard namespace and qualifier for type of collection ties it to this representation.


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2.4 Inventory_On_Hand_File_SerialLot_Detail_YYYYMMDD

The Inventory_On_Hand_File_YYYYMMDD is a subtable that links to the Inventory_On_Hand_YYYYMMDD table using the Unique_ID within the summary table.

Field # Field Name Level Flat file Data XBRL GL Taxonomy Element

Comment

Data Type Length



“Business_Unit”




Business_Unit_Code in the Business_Unit_Listing

file

2 On-Hand_Unique_ID 1 TEXT 75 Rather than use a data

field, use XML’s id and

idref to create the physical

link from detail to

summary structures.

A pointer to the related record in the

Inventory_On-Hand_File_YYYYMMDD; this will

provide the reference to the Location, the Item,

its placement at the location, unit of measure,

costs. etc.

3 Detail_Unique_ID 1 TEXT 75 Use XML’s id on the top

level of the structure.

A unique key for this record

4 Quantity 1 NUMERIC gl-ehm:serialLotQuantity For serialized items, this is probably “1” with a

unit of measure of “Each”. For lot items, it is a

decimal value >= 0 with an appropriate unit of

measure.

5 Serial Number 1 TEXT 75 gl-ehm:serialLotNumber is

used for either the serial

or the lot number, and

driven by the attributes of

serial or lot. If both are

required, the lot number is

placed in gl-

ehm:nextSerialLotNumber.

If serialized, the serial number is captured here.

Although serial number is the common term, the

value is not limited to numeric values. While it is

uncommon for an item to be both serial and lot

controlled (the serial number unambiguously

identifies the item), it is not necessarily mutually

exclusive.

6 Lot Number 1 TEXT 75 gl-ehm:serialLotNumber is

used for either the serial

or the lot number, and

driven by the attributes of

If representing a lot, the lot number is captured

here. Although lot number is the common term,

the value is not limited to numeric values


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Field # Field Name Level Flat file Data XBRL GL Taxonomy Element

Comment

Data Type Length

serial or lot. If both are

required, the lot number is

placed in gl-


7 Expiration_Date 1 DATE gl-ehm:serialLotExpiration In ISO 8601 representation, the date/time at

which a lot loses value/expires.

8 Comment 2 TEXT 100 gl-ehm:serialLotComment Free-form text related to this serialized item/lot

of items

9 Ownership 2 TEXT 30 gl-


Tracking whether the item has title to the goods

or if it is held for others (e.g., consignment)

10 Date of last movement 2 DATE gl-

ehm:serialLotOrigination

ISO 8601 format date indicating date of last

movement in or out

Additional Comment for XBRL GL For an inventory on-hand file serial detail, additional required or recommended fields include the following.


gl-cor:entriesType value = “assets” Explicitly defines this as a listing of inventory on-hand, as per XBRL GL’s enumerations.

gl-cor:entriesComment value = “ads:Inventory_On-Hand_File_Serial_Detail_YYYYMMDD” [entriesComment] is the descriptive field describing what is common in the collection of information; introducing audit data standard namespace and qualifier for type of collection ties it to this representation.


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2.5 Inventory_Transaction_File_YYYYMMDD-YYYYMMDD

Captures all transaction history (for example, receipts, shipments, transfers, returns, adjustments) affecting inventory accounts during the time period specified.


Data

Type

Length



“Business_Unit”

Used to identify the business unit, region, branch, and so on

at the level that financial statements are being audited.

Must match a Business_Unit_Code in the



field; use the


Inventory_Item_Code’s XBRL

GL concepts to tie



3 Transaction_Type 2 TEXT 25 gl-

cor:documentTypeDescription

with gl-cor:documentType of

other unless a receipt or

shipment, in which case gl-

cor:documentType of receipt or

shipment

Different software products use different codes and

descriptions for the primary inventory-specific actions that

take place in inventory transactions related to the

movement of goods related to trade, quantity adjustments

from internal business events and cost adjustments, due to

market factors or damage. While the client and auditor can

agree on codes and descriptions to describe the impact on

inventory quantities and costs, the use of the following

suggested entries can provide an automated understanding:

Value Description

Damage Quantity reduction

due to recognition


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Data

Type

Length

of damage; quantity

entered as a positive

Increase_Due_To_R

evaluation

Cost increase due to

revaluation

Lower_Of_Cost_or_

Market_Realization

Price decrease due

to lower of cost or

market evaluation;

cost change entered

as a positive

Moved_From_Produ

ction

Quantity decrease

as Raw Materials are

moved to

production; quantity


Moved_To_Producti

on

Quantity increase as

Raw Materials are

moved to the

warehouse from

production; quantity


Obsolete Quantity reduction

due to recognition

of obsolescence;

quantity entered as

a positive

Physical_Count_Adj

ustment

Quantity change as

a result of a physical

count; increases


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Data

Type

Length

from system values

entered as a

positive; decreases

from system values

entered as a

negative

Receipt Quantity increase as

inventory is

received; quantity


Return Quantity increase as

inventory is

returned; quantity


Scrapped Quantity reduction

due to inventory

being scrapped;

quantity entered as

a positive

Shipment Quantity reduction

due to inventory

being sold or

transferred out of

the organization;

quantity entered as

a positive

Transfer Quantity increase or

decrease from

inventory being


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Data

Type

Length

moved between

locations: transfer in

is a positive entry;

transfer out is a

negative entry

4 Transaction_Type_Syste

m

1 TEXT Concatenate into gl-

cor:documentTypeDescription

with above enumeration/value

Transaction code local to underlying accounting software

system

5 Transaction_Date 1 DATE gl-cor:documentDate Date of activity, per associated transaction document if

applicable

6 Transaction_Time 1 TIME Incorporated into above field

using ISO 8601

Time of activity, per associated transaction document if

applicable

7 Transaction_Quantity 1 NUMERIC gl-bus:measurableQuanity Quantity or item affected expressed in location stocking

unit

8 Transaction_Cost_Adjust

ment

2 NUMERIC gl-bus_measurableCostPerUnit

with gl-


“standard_delta” or

“average_delta” or

“specified_delta” or lifo_delta”

etc

Per unit increase or (decrease) in stocking cost as

represented in field Inventory_Cost_Method of table 2.3

Inventory_On-Hand_File_YYYYMMDD

9 Transaction_Description 1 TEXT 100 gl-cor:detailComment Description of transaction

9.5 Source_Ledger_Transact

ion_Associated_Order_I

D

2 TEXT 100 gl-cor:documentType using

appropriate enumeration for

source, such as “order-

customer” or “order-vendor.”

Transaction ID associated with either the Procure to Pay or

Order to Cash Subledger ADS.


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Data

Type

Length

10 Transaction_Associated_

Order_ID

1 TEXT 100 gl-

cor:originatingDocumentNumb

er

Customer Order, (Vendor) Purchase Order or other document associated with the transaction. Should specify whether the number found in Transaction_Associated_Order_Line_ID is from the Procure to Pay or Order to Cash Subledger ADS by using the text "P2P" or "O2C”, respectively.


Order_Line_ID

1 TEXT 100 gl-

cor:lineNumber

Line item number from a Customer Order, (Vendor)

Purchase Order, to differentiate between multiple items in a

single order for different quantities. Should specify whether

the number found in

Transaction_Associated_Order_Line_ID is from the Procure

to Pay or Order to Cash Subledger ADS by using the text

"P2P" or "O2C", respectively.


Document_ID

1 TEXT 100 gl-

cor:originatingDocumentNumb

er with gl-

cor:originatingDocumentType

= another other suitable

enumeration

Picking ticket, shipping notice, or other document created

upon/associated with movement. Should specify whether

the number found in

Transaction_Associated_Order_Line_ID is from the Procure

to Pay or Order to Cash Subledger ADS by using the text

"P2P" or "O2C", respectively.


Document_Line_ID

1 TEXT 100 gl-

cor:lineNumber

Line number for a document other than a Customer Order,

or “Vendor” Purchase Order. Should specify whether the

number found in Transaction_Associated_Order_Line_ID is

from the Procure to Pay or Order to Cash Subledger ADS by

using the text "P2P" or "O2C", respectively.

14 Inventory_From_Locatio

n

1 TEXT 25 On negative side of

transaction, For XBRL GL, this

isn’t a single field; use the




Must match Inventory_Location_File_YYYYMMDD entry


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Data

Type

Length


with other files)

15 Serial_Number 2 TEXT 75 gl-ehm:serialLotNumber is

used for either the serial or the

lot number, and driven by the

attributes of serial or lot. If

both are required, the lot

number is placed in gl-


If serialized, the serial number is captured here. Although

serial number is the common term, the value is not limited

to numeric values. While it is uncommon for an item to be

both serial and lot controlled (the serial number

unambiguously identifies the item), it is not necessarily

mutually exclusive.

16 Lot_Number 2 TEXT 75 gl-ehm:serialLotNumber is

used for either the serial or the

lot number, and driven by the

attributes of serial or lot. If

both are required, the lot

number is placed in gl-


If representing a lot, the lot number is captured here.

Although lot number is the common term, the value is not

limited to numeric values

17 Inventory_To_Location 1 TEXT 25 On positive side of transaction,

For XBRL GL, this isn’t a single

field; use the





with other files)

Required for movements; Must match

Inventory_Location_File_YYYYMMDD entry

18 Inventory_System_Or_E

xternal_Source

1 TEXT 1 gl-cor:invoiceType where ePos

means system and self-billed

means manual.

Used to indicate entry information associated with

transaction initiated from other ADS module (for example,

P2P, O2C) or initiated from within inventory. If initiated

from within inventory fields below are used to capture user

and GL information.


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Data

Type

Length

I for Inventory Sourced

E for External Sourced

19 Inventory_

Transaction_Entered_By

1 TEXT 100 gl-cor:enteredBy User_ID (from User_Listing file) of person who created the

record

20 Inventory_

Transaction_Entered_Da

te

2 DATE gl-cor:enteredDate Date the transaction was entered into the system. This is

sometimes referred to as the creation date. This should be a

system generated date (rather than user-entered date),

when possible. This date does not necessarily correspond

with the date of the transaction itself

21 Inventory_Transaction_E

ntered_Time

2 TIME Incorporated into above field

using ISO 8601

The time this transaction was entered into the system. ISO

8601 representing time in 24-hour time (hhmm) (for

example, 1:00 PM = 1300)

22 Inventory_

Transaction_Approved_

By

2 TEXT 100 gl-bus:entryResponsiblePerson User_ID (from User_Listing file) for person who approved

changes

23 Inventory_

Transaction_Approved_

By_Date

2 DATE gl-

usk:nextDateRepeat

Date the entry was approved

24 Inventory_Transaction_

Approved_By_Time


using ISO 8601

The time the entry was approved. ISO 8601 representing

time in 24-hour time (hhmm)

(for example, 1:00 PM = 1300).

25 Inventory_Transaction_L

ast_Modified_By

2 TEXT 100 gl-bus:enteredByModified User_ID (from User_Listing file) for the last person

modifying this entry.


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Data

Type

Length


ast_Modified_Date

2 DATE gl-usk:lastDateRepeat The date the entry was last modified.


ast_Modified_Time


using ISO 8601

The time the entry was last modified. ISO 8601 representing

time in 24-hour time

(hhmm) (for example, 1:00 PM = 1300).

28 Inventory_GL_Line_Debi

t_Account_Number

1 TEXT 100 gl

-

cor:accountMainID with

gl

-

cor:accountPurposeDescription

=

“debit

-

value” in a second account

structure (Note: XBRL GL

permits

an unlimited number of

accounts or

values with a transaction, and

is not

GL account number on which the debit side of the

transaction has been posted


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Data

Type

Length

limited to a single debit or

credit

value)

29 Inventory_GL_Line_Cred

it_Account_Number

1 TEXT 100 gl-cor:accountMainID with gl-

cor:accountPurposeDescription

= “credit-value” in a second

account structure (Note: XBRL

GL permits an unlimited

number of accounts or values

with a transaction, and is not

limited to a single debit or

credit value)

GL account number on which the credit side of the

transaction has been posted

30 Segment_01 2 TEXT 25 XBRL GL tracks hierarchy ID,



code NA, description N.

America, and type global area

using gl-cor:accountSubID,

glcor:accountSubDescription,

and glcor:accountSubType,



cor:parenSubAccountType.

Reserved segment field that can be used for profit center,

division, fund, program, branch, project, and so on

31 Segment_02 2 TEXT 25 See above Same as above




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Data

Type

Length


Additional Comment for XBRL GL For an inventory transaction listing, additional required or recommended fields include the following.


gl-cor:entriesType value = “other” [entriesType] is a mandatory field; [other] is an enumerated value.

gl-cor:entriesComment value = “ads:Inventory_Transaction_File_YYYYMMDD-YYYYMMDD” [entriesComment] is the descriptive field describing what is common in the collection of information; introducing audit data standard namespace and qualifier for type of collection ties it to this representation.


aicpa.org/FRC

2.6 Physical_Inventory_File_YYYYMMDD

The on-hand quantities as of the date of the physical inventory count.


Data

Type

Length



“Business_Unit”

Used to identify the business unit, region, branch,

and so on at the level that financial statements are

being audited. Must match a Business_Unit_Code in

the Business_Unit_Listing file

2 Inventory_Product_ID 1 TEXT 25 For XBRL GL, this isn’t a single field;

use the Business_Unit_Code and

Inventory_Item_Code’s XBRL GL



other files)



3 Location_ID 1 TEXT 25 For XBRL GL, this isn’t a single field;

use the Business_Unit_Code and

Location_ID’s XBRL GL concepts to

tie back (need to consider

interrelationships with other files)



4 Bin_ID 2 TEXT 25 Use ID and location from location

file … gl-

bus:organizationAddressLocationId

entifier

Optional identifier of sub-location: Code used in

system

5 Count_Date 1 DATE gl-cor:documentDate with gl-

cor:documentType = other and gl-

cor:documentTypeDescription =

physical_count

Date of physical count


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Data

Type

Length

6 Inventory_Stocking_UOM 1 TEXT 25 gl-bus:measurableUnitOfMeasure

with gl-bus:measurableQualifier =

“stocking”

Unit of measure used associated with the quantity

used for stocking inventory

7 Quantity_On_Hand_System 1 NUMERIC gl-bus_measurableQuantity with

gl-bus:measurableQualifier

“system”

Quantity on hand at last physical count per system

8 Quantity_On_Hand_Physical

_Count

1 NUMERIC gl-bus_measurableQuantity Quantity on hand at last physical count per physical

count

9 Entered_By 1 TEXT 100 gl-cor:enteredBy User_ID (from User_Listing_File) for person who

performed the count

10 Entered_Date 2 DATE gl-cor:enteredDate Date the order was entered into the system. This is

sometimes referred to as the creation date. This

should be a system-generated date (rather than

user-entered date), when possible. This date does

not necessarily correspond with the date of the

transaction itself

11 Entered_Time 2 TIME Incorporated into above field using

ISO 8601

The time this transaction was entered into the

system. ISO 8601 representing time in 24-hour time

(hhmm) (for example, 1:00 PM = 1300)

12 Approved_By 2 TEXT 100 gl-bus:entryResponsiblePerson User ID (from User_Listing file) for person who

approved customer master additions or changes.

13 Approved_By_Date 2 DATE gl-

usk:nextDateRepeat

Date the entry was approved.

14 Approved_By_Time 2 TIME Incorporated into above field using

ISO 8601

The time the entry was approved. ISO 8601

representing time in 24-hour time (hhmm)


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Data

Type

Length

(for example, 1:00 PM = 1300).

15 Last_Modified_By 2 TEXT 100 gl-bus:enteredByModified User_ID (from User_Listing file) for the last person

modifying this entry.

16 Last_Modified_Date 2 DATE gl-usk:lastDateRepeat The date the entry was last modified.

17 Last_Modified_Time 2 TIME Incorporated into above field using

ISO 8601

The time the entry was last modified. ISO 8601

representing time in 24-hour time

(hhmm) (for example, 1:00 PM = 1300).

18 Comment 1 TEXT 100 gl-cor:detailComment Comments on the count, the variances, or other

information captured

19 Location_Longitude 2 NUMERIC gh-ehm:geospatialCoordinate

Enter a relevant location for this

item. Format can be either:

• Degrees, minutes, and seconds

(DMS): 41°24'12.2"N 2°10'26.5"E

• Degrees and decimal minutes

(DMM): 41 24.2028, 2 10.4418

Or

• Decimal degrees (DD): 41.40338,

2.17403

Geospatial coordinates using decimal rather than

degree format. For example, if the facility is located

at 40°45'31.7"N 73°58'56.1"W, then 40°45'31.7"N

would be entered as 40.758812.

20 Location_Latitude 2 NUMERIC See above: integrated into one

field in XBRL GL.

Geospatial coordinates using decimal rather than

degree format. Using the above example,

73°58'56.1"W would be entered as -73.982250.


aicpa.org/FRC


Data

Type

Length

21 Obsolete_or_Damaged_Inve

ntory

2 TEXT 25 gl-cor:postingStatusDescription =

“slow moving”, “obsolete” or

“damaged”

To assist in identifying inventory quantities that are

slow moving, damaged or obsolete

22 Segment_01 2 TEXT 25 XBRL GL tracks hierarchy ID,


hierarchy type, so it can track code

NA, description N. America, and

type global area using gl-

cor:accountSubID,





cor:parentSubAccountType (What

is the hierarchy type this unit rolls

up to?)

Reserved segment field that can be used for profit

center, division, fund, program, branch, project, and

so on






aicpa.org/FRC

Additional Comment for XBRL GL For a physical inventory listing, additional required or recommended fields include the following.


gl-cor:entriesType value = “assets” Explicitly defines this as a listing of physical inventory, as per XBRL GL’s enumerations.

gl-cor:entriesComment value = “ads:Physical_Inventory_File_YYYYMMDD” [entriesComment] is the descriptive field describing what is common in the collection of information; introducing audit data standard namespace and qualifier for type of collection ties it to this representation.


aicpa.org/FRC

2.7 Physical_Inventory_File_SerialLot_YYYYMMDD

The Physical_Inventory_File_YYYYMMDD subtable facilitates serial/lot tracking by adding a unique record across the first three fields: Business_Unit_Code,

Inventory_Product_ID, and Location_ID.

Field # Field Name Level Flat file Data XBRL GL Taxonomy Element Comment

Data Type Length



“Business_Unit”

Used to identify the business unit, region, branch,

and so on at the level that financial statements are

being audited. Must match a Business_Unit_Code in

the Business_Unit_Listing file

2 Physical_Count_Unique_ID 1 TEXT 75 Rather than use a data field, use

XML’s id and idref to create the

physical link from detail to

summary structures.

A point to the related record in the

Physical_Inventory_File_YYYYMMD.

3 Detail_Unique_ID 1 TEXT 75 Use XML’s id on the top level of the

structure.

A unique key for this record

4 Quantity_Counted 1 NUMERIC gl-ehm_SerialLotQuantity with gl-

bus:measurableQualifier “system”

For serialized items, this is probably “1” with a unit of

measure of “Each”. For lot items, it is a decimal value

>= 0 with an appropriate unit of measure.

5 Quantity_per_System 1 NUMERIC gl-ehm_serialLotQuantity

6 Serial Number 1 TEXT 75 For XBRL GL, Serial Number and Lot

Number are not two separate

Boolean fields, but a selection from

an enumerated value and an

associated freeform field. For serial

only, select “serial” from gl-






If serialized, the serial number is captured here.

Although serial number is the common term, the

value is not limited to numeric values. While it is

uncommon for an item to be both serial and lot

controlled (the serial number unambiguously

identifies the item), it is not necessarily mutually

exclusive.


aicpa.org/FRC

Field # Field Name Level Flat file Data XBRL GL Taxonomy Element Comment

Data Type Length




7 Lot Number 1 TEXT 75 For XBRL GL, Serial Number and Lot

Number are not two separate

Boolean fields, but a selection from

an enumerated value and an

associated freeform field. For lot

only, select “lot” from gl-









If representing a lot, the lot number is captured here.

Although lot number is the common term, the value

is not limited to numeric values

8 Comment 2 TEXT 100 gl-ehm:serialLotComment Free-form text related to this serialized item/lot of

items

Additional Comment for XBRL GL For a physical inventory listing serial lot detail, additional required or recommended fields include the following.


gl-cor:entriesType value = “assets” Explicitly defines this as a listing of physical inventory, as per XBRL GL’s enumerations.

gl-cor:entriesComment value = “ads:Physical_Inventory_File_SerialLot_Detail_YYYYMMDD” [entriesComment] is the descriptive field describing what is common in the collection of information; introducing audit data standard namespace and qualifier for type of collection ties it to this representation.


aicpa.org/FRC

2.8 Material_Cost_File_YYYYMMDD This is an optional table that captures standard cost components associated with inventory items including cost associated with purchase of material and product.


Data

Type

Length

1 Business_Unit 1 TEXT 50 gl-cor:accountSubID with


“Business_Unit”

Used to identify the business unit,

region, branch, and so on at the level

that financial statements are being

audited. Must match a




field; use the


Inventory_Item_Code’s XBRL GL



other files)


Inventory_Master_File_YYYYMMDD

3 Location_ID 1 TEXT 25 For XBRL GL, this isn’t a single

field; use the


Location_ID’s XBRL GL concepts

to tie back (need to consider

interrelationships with other

files)



4 Costing_Type 1 TEXT 25 gl-cor:accountMainDescription

and gl-cor:accountType of

measurable

Used to identify the costing sheet

(such as COGS, Inventory Valuation,

COGM)


aicpa.org/FRC


Data

Type

Length

5 Total_Cost 1 NUMERIC gl-cor:amount Used to identify the total standard cost

components (for example, Cost of Raw

material + freight + labor + storage +

etc.)

6 Other_Cost_1 2 NUMERIC gl-cor:amount associated with gl-

cor:accountSubID of 001

Used to identify a certain standard cost


material, freight, labor, storage, etc.).

See question #8 in section 4.0

Inventory Questionnaire




























aicpa.org/FRC


Data

Type

Length



11 Stocking_Unit_of_Measure 1 TEXT 25 gl-bus:measurableUnitofMeasure Unit of measure, used to track items as

stocked (for example, bushel, barrel,

pint)

12 Valid_From_Date 1 DATE gl-bus:measurableStartDateTime Date the cost becomes effective for

item

13 Valid_To_Date 1 DATE gl-bus:measurableEndDateTime Date the cost becomes expired for

item

14 Valuation_Date 2 DATE gl-cor:confirmedDate Date of the last cost change, if not

available then leverage field

Valid_to_Date




code NA, description N. America,

and type global area using gl-

cor:accountSubID,





cor:parentSubAccountType

(What is the hierarchy type this

unit rolls up to?)

Reserved segment field that can be

used for profit center, division, fund,

program, branch, project, and so on



aicpa.org/FRC


Data

Type

Length




Additional Comment for XBRL GL For a material cost listing, additional required or recommended fields include the following.


gl-cor:entriesType value = “assets” Explicitly defines this as a listing of material costs, as per XBRL GL’s enumerations.

gl-cor:entriesComment value = “ads:Material_Cost_File_YYYYMMDD” [entriesComment] is the descriptive field describing what is common in the collection of information; introducing audit data standard namespace and qualifier for type of collection ties it to this representation.


aicpa.org/FRC

3.0 Inventory Subledger Standard Data Profiling Report For each set of data that is extracted, the following tests should be performed by the data provider and

independently confirmed by the auditor. Validation should be performed for each period for which the

data is requested. The data validation should include the following:

Test Description

Date and Control Totals

Required files Confirm all requested files and data fields have been

provided.

Date ranges Minimum and maximum dates for the following:

Inventory_Transaction_File_YYYYMMDD-YYYYMMDD

- Transaction_Date

- Entered_Date

Control totals Record count and total sum of amount fields for the

following:

Inventory_On-Hand_File_YYYYMMDD

Inventory_Transaction_File_YYYYMMDD-YYYYMMDD

Physical_Inventory_File_YYYYMMDD

Completeness and Inventory Roll-Forward

Inventory roll-forward Roll forward all inventory items from the beginning of the fiscal year to the end of the period. Begin with the Inventory_On-Hand_File from the start of the period (for example, Inventory_On-Hand_File_20XX0101) and apply all of the transactions from the Inventory_Transaction_File (e.g., Inventory_Transaction_File_20XX0101-20XX1231). Compare the computed ending quantities to the quantities listed in the Inventory_On-Hand_File for the end of the period (for example, Inventory_On-Hand_File_20XX1231).

Data Review

Missing data Number of missing or blank values listed by field.

Invalid data Count of records by field that do not comply with field

format requirements (for example, date or time fields not

compliant with date or time format, numeric fields not

including two decimal places, and so on).

Invalid data transaction date Validate that the date of transactions are in the period as

expected (or as provided by the client).


aicpa.org/FRC

Inactive records Validate the records on tables that have cross-referencing

values (e.g. business unit code, product id, location id, bin id)

exist and are active in the other tables as required

Invalid transaction codes If transaction codes are used, validate the transaction code

matches one from company’s master transaction code list

Inconsistency between detail and summary

data

Validate the consistency between the detailed and summary

data (e.g. items listed in the detailed data are also included

within the summary data).


aicpa.org/FRC

4.0 Inventory Questionnaire

The following information is integral to the understanding and use of the company’s IT data. A

company’s financial management, in consultation with its IT personnel, should address each of the

items each time the data is provided, if applicable. These questions are not intended to be all-inclusive

and are presented as examples only. Some of the following questions are intended to be open ended

in order to facilitate dialogue to gain a better understanding of the risks involved. Prior to

implementing this data standard, an evaluation should be made of the reliability of the system data

through the use of controls and segregation of duties testing, which are not covered by this

questionnaire.

Inventory

Consider the following questions:

1. What classifications of inventory are on-hand (raw materials, work in process, finished

goods)?

2. Do you have inventory on hand that is owned by third parties (for example, consignment

inventory or bill and hold transactions)? How is this accounted for?

3. Do you have inventory that is in custody of third parties (for example, offsite warehousing and

customs)? How is this accounted for?

4. Do you perform cycle counts or wall-to-wall physical inventory counts? How often do you

perform physical inventories? Which items do you inventory at what times? How do you

handle discrepancies?

5. What costing methods are used?

6. What procedures are performed to identify slow moving, damaged, obsolete, and other

goods, and how are these identified in inventory records?

7. What codes for units of measure are being used, and what are the descriptions?

8. If you have used the other costs fields, provide a description of each cost (for example, raw materials, freight, and labor).

9. Explain significant sources of inventory costs interfacing with the inventory system.

10. If standard costing is used, how are standards established and how often are they updated?


aicpa.org/FRC

11. When an “ABC” risk-based program is used for inventory control, what criteria are used (for

example, dollar value, risk, turnover) to determine risk categories and how often are these

monitored for continued appropriateness?


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